Main Street Registry

116 Park Avenue West, LLC

Mansfield, OH · Hotels (except Casino Hotels) and Motels · NAICS 721110

116 Park Avenue West, LLC is a hotel business in Mansfield, Ohio, in the industry category of Hotels (except Casino Hotels) and Motels. The company financed real estate or equipment through an SBA 504 loan of $2,817,000, with The Park National Bank as the lending bank and Community Capital Development Corporation as the certified development company, and the loan was approved on September 2, 2026.

SBA 504 loan, approved Sep 2, 2026

$2,817,000 SBA portionCDC: Community Capital Development Corporation25 years termApproved, not yet fundedLoan details
SBA (CDC) portion
$2,817,000
Bank portion
$3,915,244
Estimated project size
$7,480,271 (estimated)
Estimated owner equity
$748,027 (estimated, about 10% of the project)
Bank lender
The Park National Bank, Newark, OH
CDC
Community Capital Development Corporation
Processing method
504 Basic: standard SBA processing through a CDC
Term
25 years (300 months)
Estimated maturity
September 2, 2051 (estimated, approval date plus term)
Loan status
Approved, not yet funded
Jobs supported
6
Business type
Corporation
NAICS
721110, Hotels (except Casino Hotels) and Motels
Franchise
Ascend Collection
Project location
Richland County, OH
SBA district office
Columbus District Office
Congressional district
OH-12
Collateral
Yes

Estimated share of project by source

Bank 52% SBA (CDC) 38% Owner 10%

  • Larger than 56% of expansion loans in Hotels (except Casino Hotels) and Motels on this site.
  • Average expansion loan in Hotels (except Casino Hotels) and Motels: $2,843,226.
  • Average expansion loan in Ohio: $2,096,556.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Ohio